Income tax

stephanielyse Posted: Jul 19, 2006 03:03 PM

Income tax

I just got my first married paycheck and WAY less taxes were taken out than before. I thought married people got taxed more. Am I in for a big dissapointment come April 15? Will I have to pay back all of the money I am so excited about?

stephanief Posted: Jul 19, 2006 03:17 PM

Re: Income tax

I think you need to be careful if you claim married on your w-4....I am leaving mine at single zero so I get back money at the end of the year. Don't be surprised if you are going to owe money......

stephanielyse Posted: Jul 19, 2006 03:26 PM

Re: Income tax

Posted by stephanief

I think you need to be careful if you claim married on your w-4....I am leaving mine at single zero so I get back money at the end of the year. Don't be surprised if you are going to owe money......

That's what I was worried about. Maybe I'll just put the extra $$ into an ING account until the taxes are done.

stephanief Posted: Jul 19, 2006 03:31 PM

Re: Income tax

Posted by stephanielyse

Posted by stephanief

I think you need to be careful if you claim married on your w-4....I am leaving mine at single zero so I get back money at the end of the year. Don't be surprised if you are going to owe money......

That's what I was worried about. Maybe I'll just put the extra $$ into an ING account until the taxes are done.

That is a good idea....

MsKitty1274 Posted: Jul 19, 2006 05:19 PM

Re: Income tax

Sorry to interject, but what happens if I claim Married 0?

VickiC Posted: Jul 20, 2006 08:11 AM

Re: Income tax

Posted by MsKitty1274

Sorry to interject, but what happens if I claim Married 0?

You still have less taxes taken out then if you claim Single 0.

I claim single 0 and have extra money taken out on my Federal and State. We get money back every year which is what I prefer instead of having to pay.

cjik Posted: Jul 20, 2006 09:35 AM

Re: Income tax

Yes, I claimed Married 0 last year, had less taxes taken out, and we owed at tax time! Our accountant recommended that the lower wage earner (me) declares Single 0 and that should even it out.

I really don't understand why married 0 doesn't seem to work for most people, but it's too little for most.